Iberdrola Raises Profit Outlook as Grid Investment Climbs 28%

Iberdrola raised its 2026 adjusted-profit growth forecast to at least 10% on Wednesday, from previous guidance of more than 8%, as investment in electricity networks expands. It is the Spanish utility's second upgrade this year, Reuters reported.

Reported net profit for the first nine months rose 10% to €5.8 billion, helped by gains from selling assets in Mexico. Adjusted net profit, excluding the Mexico sale, increased 9% to €5.1 billion. The distinction matters when comparing the headline result with ongoing performance.

The company invested €10.1 billion over the period, up 13%, with almost three-quarters directed to Britain, the United States and Brazil. Network investment alone rose 28% to €6.3 billion, while its regulated asset base reached €56 billion.

Iberdrola is also targeting average annual adjusted-profit growth of 10% over the next five years. It expects regulated grid assets to exceed €90 billion by 2030 and plans to provide more detail at a capital markets day in March 2027.

The results highlight the growing weight of power grids in the business. The longer-term figures remain management targets, rather than earnings already secured.

Sources: Reuters report via MarketScreener; Iberdrola: nine-month 2026 results.

Archival photo: Iberdrola Tower, Bilbao, 2015. Fred Romero / Wikimedia Commons, CC BY 2.0. Cropped to 16:9 by Morval Universal.